TrivarX secures government support

TrivarX (ASX: TRI) has secured $1,031,073 from the Australian federal government's R&D Tax Incentive for the 2023/24 financial year. This funding supports their recent and ongoing projects, including the Phase 2 Sleep Analysis of Major Depressive Episode clinical study and development of sleep staging software.

TrivarX's strategic growth and development

TrivarX has received $1,031,073 as part of the Australian government's R&D Tax Incentive, representing 43.5% of their eligible R&D expenditures. The funds will aid in the commercialization of their AI-backed mental health screening solutions. TrivarX's focus remains on advancing mental health technology through innovative R&D efforts, supported by government incentives. The company's strategic aim is to leverage these funds to continue developing solutions that offer objective measures for early detection and screening of mental health conditions.

Executive insights on R&D tax incentive

The R&D program is crucial for companies like TrivarX to develop groundbreaking solutions,' stated Non-Executive Chairman, Mr. David Trimboli.